GP percentage ranges from 18-25% depending on 3rd party contracts/cash:insurance ratio/rebates/etc.bananaface said:The margin differes in each store. The average independent store owner in the US makes about 200K/year. But, that is variable too. And, they can expect to put in more than a 40 hour work week (50-60ish).
Let's do the math.GravyRPH said:GP percentage ranges from 18-25% depending on 3rd party contracts/cash:insurance ratio/rebates/etc.
RxGirl said:I don't mean to sound stupid or anything, but what is DME business?
You currently need access to about 150K to get a new store up and running and keep it going until you profit. NCPA is the group that provided that figure.skp said:hmm...
methinks its time for me to go to bed
okay, here's a question:
what/how much would one be looking at opening their own pharmacy (items, and $$)?
Caverject said:Store I work at has a 138K inventory....150 seems low
ZpackSux said:Let's do the math.
What's the average price of a prescrption? $40 to $55? Let's say $45. If I'm way off, y'all tell me. I'm not a retail pharmacist.
100 rx per day = $4,500 gross. open 5.5 days a week = $24750 per week.
$1,287,000 gross per year.
Worst case scenario at 17% gross margin = $218,790 gross profit.
1 FTE tech = $35,000 with benefits
Overhead (lease, utilities, this and that) $50,000
$133,790 net including your salary... that's about equivalent to $100,000 per year with benefits.. except you get to work 52 saturday every year. Or if you use a relief pharmacist .... subtract anywhere from $50 to $100 per hour from your profit.
There are variables. Overhead could be lower and the gross margin could be higher. The number of prescriptions could be lower or it could be higher.
But the most of my buddies who own their pharmacies do really well... one guy does over 500 scripts a day..and services bunch of nursing homes.
I just chose DME business...because it doesn't require me to be there all the time.